SCB issues Documentary Letters of Credit (DLC) totaling USD 2.9 million to enable the sale of leather from Bangladesh to various parts of the world including Hong Kong, Brazil and USA
Amount: 2,900,000 USD
Instrument:90 day DLC
Type:MT-710
Receiving Bank: Multiple banks in Bangladesh
SCB facilitates the sale of shoes from China to South Korea via issuance of a USD 400k Standby Letter of Credit (SBLC)
Amount:400,000 USD
Instrument:1 year SBLC
Type:MT-760
Receiving Bank: ICBC Ltd., China
Soleil Chartered Bank (SCB) is an international trade finance institution created to manage and solve global trade finance documentary needs. With a world-wide scope, SCB provides global trade finance solutions to Banks, Brokers, Corporations and Individuals. SCB financial instruments are used by traders, companies and individuals to meet required trade finance needs.
The information supplied in this newsletter does not constitute financial advice and you should seek independent advice before undertaking any financial transactions based on information supplied herein. Soleil Chartered Bank does not accept any liability whatsoever for any loss or damage suffered or incurred as a result of your relying on information or material published in this newsletter. We aim to keep our newsletter up to date with current financial rules and regulations. We seek to uphold the highest standards.
Who can use our financial instruments?
SCB financial instruments are used by traders, companies and individuals to meet their trade finance needs..
How do I apply for an SCB financial instrument?
In order to submit an application for an SCB financial instrument please visit www.soleilbank.com. Click on the "Apply Now" tab and download the relevant application form. Please email a completed and signed application form with all supporting documents to info@soleilbank.com.
Ship breaking Industry
Ship breaking is a type of ship disposal involving the breaking up of ships for either a source of parts, which can be sold for re-use, or for the extraction of raw materials, mainly scrap. It may also be known as ship dismantling, ship cracking, ship recycling, ship disposal or ship demolition.
This year alone approximately 1,000 ships with a combined hauling capacity of 52 million metric tons of cargo will be cut into pieces and sold for scrap metal. A vast majority of this trade will be done in India, Pakistan and Turkey. Given the current credit squeeze, our credit enhancement instruments could be used to greatly expand the scope of your ship
For example, our Standby Letters of Credit (SBLC) and Bank Guarantees (BG) can be used for collateral enhancement to either access credit lines at a bank or to maintain certain credit limits you can use in your ship breaking business. An SBLC can also be used in the event a buyer and a seller are signing a long term contract and one needs to provide an instrument that can be called in case of default.
